Commercial Real Estate

– Nexus, a leader in AP automation and payments for the real estate industry, has pioneered a new payments solution in partnership with WePay, the integrated payments business of JPMorgan Chase & Co., to allow SMBs to accept payment through a virtual card to simplify their payment process and improve working capital. The newly developed payments solution, called NexusDirect powered by Chase, allows sole proprietors and small business suppliers – such as those in lawn care, pest management, marketing services, facility management, and others – to get payments directly into their bank accounts using a single-use virtual card. “NexusDirect is a very practical solution for small suppliers who don’t have a dedicated AR employee or the time to process virtual cards,” Coolidge said. While NexusDirect is a critical step forward for many suppliers, the solution also has benefits for buyers or Nexus customers who use the Nexus AP automation and payments platform to pay their hundreds or thousands of suppliers each month.

The Federal Housing Administration’s (FHA) Office of Multifamily Housing Programs now has an updated and restructured Multifamily Housing Accelerated Processing (MAP) The MAP Guide describes how lenders qualify for participation and how lenders apply for mortgage insurance including the qualifications and roles, both financial and professional, of all participants. In addition to reorganization and streamlining of the 2016 MAP Guide, the new version refines the energy efficiency and Green Mortgage Insurance Premium (Green MIP) program. Obtaining certification (with minimum scoring requirements) allows a reduction in mortgage insurance premiums to 25 basis points; however under the updated guide, Energy Star for existing buildings (Certification based on score only) has been all but eliminated as certification for Section 223(f) and 223(a7) programs.

The reseller and referral program is designed for companies that work with multifamily, CRE, student housing, senior living, mixed-use, retail, storage, and construction firms across the United States. We made our new partnership program very flexible to allow a cross-section of experts to promote Nexus and benefit from their association with a real-estate focused AP automation and payments software,” said Jenn Taylor, Chief Customer Officer. From one platform, AP teams and authorized users can: * Electronically receive, process, approve, and pay invoices – with complete audit logs and tracking * Pay suppliers electronically and provide them with full visibility into the payment life-cycle Nexus software is used by 1 in 5 of the top real estate companies. With Nexus Procure-to-Pay software, real estate companies can manage every aspect of the accounts payable process – from purchase to payments – with just a few clicks.

One of the main questions real estate companies ask before outsourcing their AP payments is will their suppliers be open to accepting new forms of payment, in lieu of a paper check? Or, more specifically, will their suppliers agree to accept a virtual card – which is similar to a credit card, but it’s sent electronically and is only for payment of a pre-designated transaction or transactions. After working with hundreds of clients, and processing billions of dollars, Nexus has data showing that many suppliers are indeed eager to receive payment with a virtual card. We also collected data about which supplier industries are most likely to accept virtual cards, as well as how acceptance rates are changing – and growing fast.

AEI Consultants, a leading commercial real estate assessment and consulting firm, has announced the promotion of Rachel Yockey to the newly created role of Director of Culture and Engagement. Within her new role, Rachel will work closely with the Chief Executive Officer, Holly Neber, the Human Resources team, Regional Directors, and other leadership to continue AEI’s commitment to build an inclusive and thriving culture. In addition to leading the DEI Advisory Council, Rachel will be leading the AEI 2021 Culture Project, launching an internal Career Path guide, oversee implementation of the Culture Handbook, and much more. About AEI Consultants AEI Consultants is an employee-owned international consulting firm that provides comprehensive services to commercial lenders, property owners, managers, tenants, and developers, industries, institutions, government agencies, and insurers, including many Fortune 500 companies.

As discussed on the January 25, 2021 Climate Risk panel at the Environmental Bankers Association conference, the Commodity Futures Trading Commission (CFTC) noted in September 2020 that climate risk poses a major risk to the stability of the US financial system. Our panel covered some potential ways for lending institutions to incorporate climate risk into underwriting and due diligence, using flood risk as an example. In a 2019 study, Deloitte found that more than half of US state insurance regulators “indicated that climate change was likely to have a high impact or extremely high impact on coverage availability and underwriting assumptions. Some investors “envisioned a future in which properties could not qualify for insurance at all and therefore became ineligible for loans.” During the EBA Panel, we surveyed the lenders in the audience, and received the following feedback as a potential signal of how the EBA community currently views climate risk:

These hires were made due to increased demand for assessment and consulting services by Government Sponsored Enterprises (GSE) lenders such as Fannie Mae and Freddie Mac. In her capacity as Vice President, Sarah will oversee day-to-day operations for all aspects of agency execution, including ESA, PCA, Zoning, Seismic and GREEN reports; confirming schedules and quality objectives are met; assures that training is provided; and that client scope of work requirements are met. He is well-versed in the Fannie Mae Delegated Underwriting and Servicing Guide requirements, the Freddie Mac Multifamily Seller/Servicer guide requirements, as well as the ASTM standard. AEI Consultants is an employee-owned international consulting firm that provides comprehensive services to commercial lenders, property owners, managers, tenants, and developers, industries, institutions, government agencies, and insurers, including many Fortune 500 companies.

These hires were made due to increased demand for assessment and consulting services by Government Sponsored Enterprises (GSE) lenders such as Fannie Mae and Freddie Mac. In her capacity as Vice President, Sarah will oversee day-to-day operations for all aspects of agency execution, including ESA, PCA, Zoning, Seismic and GREEN reports; confirming schedules and quality objectives are met; assures that training is provided; and that client scope of work requirements are met. He is well-versed in the Fannie Mae Delegated Underwriting and Servicing Guide requirements, the Freddie Mac Multifamily Seller/Servicer guide requirements, as well as the ASTM standard. AEI Consultants is an employee-owned international consulting firm that provides comprehensive services to commercial lenders, property owners, managers, tenants, and developers, industries, institutions, government agencies, and insurers, including many Fortune 500 companies.

The following records established under state statutes for the purpose of imparting constructive notice of matters relating to real property (public records): (a) The current record descriptions of any adjoiners to the property to be surveyed, except where such adjoiners are lots in platted, recorded subdivisions; (c) Any recorded easements, servitudes, or covenants burdening the property; (ii) The current record description of the real property to be surveyed or, in the case of an original survey prepared for purposes of locating and describing real property that has not been previously separately described in documents conveying an interest in the real property, the current record description of the parent parcel that contains the property to be surveyed; Complete copies of the most recent title commitment or, if a title commitment is not available, other title evidence satisfactory to the title insurer; This new requirement states that, if a surveyor becomes aware of a recorded easement that is not listed in the title commitment, that the surveyor is to advise the title company and show it on the face of the survey, with a note that title company has been advised, unless the title company provides evidence that this easement has been released. If the client requests to have Offsite Easements plotted but with no Improvements shown, we have to create a Table A item 20 or 21, etc, with this wording Please also see the Frequently Asked Questions, provided by Gary Kent, Professional Surveyor – Chair, Joint ALTA/NSPS Committee on the ALTA/NSPS Standards AEI looks forward to providing you with professional and timely ALTA Surveys nationwide.

Sending employees out to buy supplies with their credit cards has always been a risky proposition, because no finance teams wants to deal with last-minute, surprise expenditures at the end of the month. Many real estate companies addressed these threats by adding online supplier catalogs directly to their AP platforms, so they could easily shop (using pre-negotiated rates), create purchase orders, and get them approved all in the same place, without ever stepping foot in a store. While there’s no post-pandemic crystal ball that shows just how everything pans out, these electronic behaviors that have picked up speed are sure to produce tangible benefits for both buyers and their suppliers well into 2021. Learn more about these Covid-induced shifts in the purchase-through-payment process in Nexus’s 2020 supplier surveys and observations report.